Matt Shanahan (Waterford, Independent) | Oireachtas source

I thank our contributors and those who have returned to speak to the committee. I know we will speak with representatives of Meat Industry Ireland later today as well. I agree in part with Ms King's comments regarding the very high turnover of companies but I point out that turnover is vanity at the end of the day and there is a high capital cost in this market. It is important to note where are the profits. There is no doubt there is a small number of players in the market and they are very much in control of that market.

I listened to the president of the Irish Cattle and Sheep Farmers Association, ICSA, on television yesterday speaking about the poor price being paid to farmers for their produce, with farmers having to operate below cost. The business operates a cost model. Has SIPTU considered going to the Government to speak about the below-cost selling of meat, which is ultimately a big component of this problem? I worked in the meat industry 30 years ago and at that time we sold meat at a higher price per kilogramme than we are selling it today. The below-cost selling and loss leading of meat, particularly in the convenience sector, is a large proportion of the Irish price. The witnesses know 90% of our meat exports are sold to the European market and we are subject to the pricing conventions within that.